Search found 5410 matches

by Fallible
Fri Aug 26, 2016 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about POA for my mother
Replies: 7
Views: 512

Re: Questions about POA for my mother

Sorry to hear about your mother. The road ahead will be difficult for you both, but you are moving in the right direction. You should be able to accompany your mother to her doctor and learn her condition so the three of you can begin working together. You also need an elder care attorney to arrange...
by Fallible
Fri Aug 26, 2016 6:22 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 1785
Views: 426489

Re: What Book Are You Currently Reading? Part VI

The many posts here by Agatha Christie readers finally prompted me to dig out my brittle paperback collection dating back to the '60s. Unfortunately, I first reread Passenger to Frankfurt , a rare spy novel, one of her last books and not one of her best, although much of the Christie magic is still ...
by Fallible
Fri Aug 26, 2016 5:32 pm
Forum: Investing - Help with Personal Investments
Topic: How did I do?
Replies: 33
Views: 2142

Re: How did I do?

Well like I said, the short income is only for a year or so, but I'm trying to narrow down the best funds for 75 or less for ETFs and 20 or less for MF's, which is better than just saving 20 a month in a piggy bank or 0.05% savings account. While you have received very good answers to the questions...
by Fallible
Fri Aug 26, 2016 12:30 pm
Forum: Investing - Help with Personal Investments
Topic: Beginner to investment planning
Replies: 7
Views: 498

Re: Beginner to investment planning

Congratulations on your first "real" job. Aim for six months of emergency savings and, for starters, read the wiki's "Getting started," and then a couple of good books: If You Can: How Millennials Can Get Rich Slowly , and The Bogleheads' Guide to Investing. https://www.boglehead...
by Fallible
Mon Aug 22, 2016 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: where to start with investing
Replies: 9
Views: 738

Re: where to start with investing

I am looking to start investing but I really have no idea where to start. I recently opened a Roth IRA with vanguard and am not sure which funds to buy into. I have an emergency fund set up already. I also currently have no debt. I am 32 yrs old and have made an initial deposit of about $3000 but w...
by Fallible
Mon Aug 22, 2016 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: retirement websites/books?
Replies: 13
Views: 1089

Re: retirement websites/books?

Congratulations on your retirement! A new book out this year by Jane Bryant Quinn (a Boglehead) is How to Make Your Money Last: The Indispensable Retirement Guide . Good section on withdrawal rates. Also mentioned on several forum threads and is among Taylor Larimore's "Gems": https://www....
by Fallible
Sun Aug 21, 2016 4:53 pm
Forum: Personal Consumer Issues
Topic: The True Cost of Owning a Dog
Replies: 105
Views: 7313

Re: The True Cost of Owning a Dog

We are empty nesters now, and if it weren't for our rescue pit, we would have an apartment in NYC. I don't think she'd like that, so we stay here in the suburbs. I have no idea what price tag to put on that, but it is worth it when she curls up with us to watch TV in the evening. She's not a very h...
by Fallible
Sun Aug 21, 2016 1:03 pm
Forum: Investing - Help with Personal Investments
Topic: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?
Replies: 85
Views: 6255

Re: Seemingly Too Good To Be True Investment Opportunity: Invest or Don't?

Amid all the good advice you're receiving and your own good efforts to explain, two things stand out: 1) you badly, almost irrationally, want to invest with your friend, despite a similar experience that did not end well, suggesting you are vulnerable to these deals and don't yet understand why. For...
by Fallible
Sat Aug 20, 2016 6:10 pm
Forum: Forum Issues and Administration
Topic: Improving the Bogleheads forum
Replies: 86
Views: 5895

Re: Improving the Bogleheads forum

Things like whatever you wash your car by yourself or not are absolutely not part of the reason this forum was conceived. In my view it degrades the excellent input of many on investments. And yet many others find value in the Consumer forum, as evidenced by the vocal outcry when it was temporarily...
by Fallible
Thu Aug 18, 2016 7:16 pm
Forum: Investing - Theory, News & General
Topic: How Fama, Shiller, Taleb, Kahneman, Thaler ... compare?
Replies: 42
Views: 3069

Re: How Fama, Shiller, Taleb, Kahneman, Thaler ... compare?

you've heard of the Black Swan concept, which is his. No, it is not. The term is his and it is catchy. From my understanding of Black Swans, he is a popularizer of chaos theory and complexity theory, which is valid, hugely important and underappreciated by many as applied to economics, though to my...
by Fallible
Thu Aug 18, 2016 5:12 pm
Forum: Personal Consumer Issues
Topic: Book - Criticism of behavioral economics.
Replies: 18
Views: 1851

Re: Book - Criticism of behavioral economics.

Good perspective on it from a 2014 Financial Times article: So popular is the field that behavioural economics is now often misapplied as a catch-all term to refer to almost anything that’s cool in popular social science, from the storycraft of Malcolm Gladwell, author of The Tipping Point (2000), t...
by Fallible
Fri Aug 12, 2016 7:44 pm
Forum: Investing - Help with Personal Investments
Topic: I am tempted to time the market
Replies: 36
Views: 2585

Re: I am tempted to time the market

Selling in May and Walking Away? Postby chicagoan23 » Thu Apr 28, 2016 3:25 pm I know this "old saw" of a topic has come up in BH forums many times, and I know that it goes against the entire BH philosophy, and I know that data has shown it to be a strategy that doesn't work long-term, an...
by Fallible
Fri Aug 12, 2016 6:18 pm
Forum: Investing - Theory, News & General
Topic: How Fama, Shiller, Taleb, Kahneman, Thaler ... compare?
Replies: 42
Views: 3069

Re: How Fama, Shiller, Taleb, Kahneman, Thaler ... compare?

So is there utility for someone to read about behavioral economics and study things like cognitive biases? In my opinion, definitely YES. One can start with "Why Smart People Make Big Money Mistakes" by Gilovich and Belsky. It is a quick read and introduction to the topic while not so aca...
by Fallible
Fri Aug 12, 2016 3:59 pm
Forum: Investing - Theory, News & General
Topic: How Fama, Shiller, Taleb, Kahneman, Thaler ... compare?
Replies: 42
Views: 3069

Re: How Fama, Shiller, Taleb, Kahneman, Thaler ... compare?

Thank you all. I'm grateful to folks who replied. I do have a follow-up question: I just listed to the YouTube discussion between Fama and Thaler (Are markets efficient?), and one take-away seemed to be that an average investor should behave as if the markets were efficient. And if I remember corre...
by Fallible
Fri Aug 12, 2016 3:40 pm
Forum: Investing - Help with Personal Investments
Topic: I am tempted to time the market
Replies: 36
Views: 2585

Re: I am tempted to time the market

Selling in May and Walking Away? Postby chicagoan23 » Thu Apr 28, 2016 3:25 pm I know this "old saw" of a topic has come up in BH forums many times, and I know that it goes against the entire BH philosophy, and I know that data has shown it to be a strategy that doesn't work long-term, an...
by Fallible
Fri Aug 12, 2016 1:42 pm
Forum: Investing - Help with Personal Investments
Topic: I am tempted to time the market
Replies: 36
Views: 2585

Re: I am tempted to time the market

Everything I read says don't try to time the market. As a 41 year old who is 15 years from retirement I am 90% stock market index fund and 10% bond. The market has been on one of the longest bull runs so I am thinking I should re-balance and go into cash and/or bonds because it seems like the corre...
by Fallible
Fri Aug 12, 2016 1:26 pm
Forum: Investing - Theory, News & General
Topic: How Fama, Shiller, Taleb, Kahneman, Thaler ... compare?
Replies: 42
Views: 3069

Re: How Fama, Shiller, Taleb, Kahneman, Thaler ... compare?

... Kahneman is a psychologist--people forget that--and proudly so. His work goes back decades, and is far more extensive than just his work on cognitive errors/biases. But that being said, he got his Nobel for his work with a now-dead psychologist, Amon Tversky. ... It is Amos Tversky, who surely ...
by Fallible
Thu Aug 11, 2016 4:58 pm
Forum: Investing - Theory, News & General
Topic: Wiki - Bogleheads investing startup kit revised
Replies: 11
Views: 769

Re: Wiki - Bogleheads investing startup kit revised

I didn't look hard, but is there a Wiki piece on "How to Switch from a High-Cost Provider to a Low-Cost Provider". And I think everybody knows what I mean by "High-Cost Provider" since there are many new threads each week asking how to do this. The "Startup Kit" is for...
by Fallible
Wed Aug 10, 2016 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Parents TOO frugal - leave it be???
Replies: 34
Views: 3944

Re: Parents TOO frugal - leave it be???

It appears they are okay with their lives. If it will make you feel okay with that, just let them know they don't have to sacrifice for you. And let it go.
by Fallible
Tue Aug 09, 2016 4:41 pm
Forum: Investing - Theory, News & General
Topic: Talking about the Bogleheads approach with non-Bogleheads
Replies: 64
Views: 4474

Re: Talking about the Bogleheads approach with non-Bogleheads

In both cases the problem is psychology, not cognition. I believe this is the key. People are in either half full glass or empty glass approach. It is hard to fight against psychology of; they know something a nd are doing right. ... As Jason Zweig says in his book, Your Money & Your Brain , &q...
by Fallible
Tue Aug 09, 2016 12:34 pm
Forum: Investing - Theory, News & General
Topic: Talking about the Bogleheads approach with non-Bogleheads
Replies: 64
Views: 4474

Re: Talking about the Bogleheads approach with non-Bogleheads

I have been through similar situations many times and will many more, I'm sure. If I'm asked how I invest, I just say that I keep costs low and investments simple mainly with a few good, low-cost index funds. Depending on the reaction, I may explain high fees and their drag on returns, but I'm never...
by Fallible
Tue Aug 09, 2016 12:04 pm
Forum: Investing - Theory, News & General
Topic: "How to Make Your Money Last" -- A Gem
Replies: 43
Views: 9253

Re: "How to Make Your Money Last" -- A Gem

Put something useful or interesting into your schedule every day. -- Something you have to do (or want to do) that gets you up in the morning. I really like this quote. Sometimes there are a lot of things you don't want to do but focusing on something that you want to get done (in addition to the o...
by Fallible
Mon Aug 08, 2016 10:47 am
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 1785
Views: 426489

Re: What Book Are You Currently Reading? Part VI

At the risk of going off-topic I don't think it's necessarily laudible to "not give a whit what anyone else thinks of you". And I don't think that describes Feynman. I've read much of what he has written and much of what others have written about him. From what I can tell, he was a charmi...
by Fallible
Fri Aug 05, 2016 11:14 am
Forum: Investing - Theory, News & General
Topic: "Your 10 Most Important Financial Decisions"
Replies: 21
Views: 2953

Re: "Your 10 Most Important Financial Decisions"

That's a great list, Taylor. As I read it, what occurred to me is how many of those very critical decisions are made so early in life. I try to stress to young people that much of their financial and personal success will likely be determined by the choices they make between ages 15 and 25. I also ...
by Fallible
Fri Aug 05, 2016 8:50 am
Forum: Local Chapters and Bogleheads Community
Topic: Minnesota Bogleheads Meet Aug. 6, 2016
Replies: 11
Views: 1133

Re: MN Bogleheads Meet Aug. 6, 2016

I have read Quinn's book and it is very good and aligned with BH principles. Looking forward to the meeting - - thank you! Joe Hi Joe, Quinn is very much aligned with the BH principles and for a very long time with Jack Bogle: https://personal.vanguard.com/us/insights/article/bogle-65-years-072016/...
by Fallible
Wed Aug 03, 2016 2:06 pm
Forum: Local Chapters and Bogleheads Community
Topic: Minnesota Bogleheads Meet Aug. 6, 2016
Replies: 11
Views: 1133

Re: MN Bogleheads Meet Aug. 6, 2016

The Minnesota Bogleheads' chapter will hold its quarterly meeting this Saturday, Aug. 6, 2016, from 9:30 a.m. to 11:30 a.m. at the Ridgedale Library in Minnetonka. All meetings are free and open to the public and new members are always welcome, so please join us. If you have questions, just post to...
by Fallible
Tue Aug 02, 2016 1:38 pm
Forum: Local Chapters and Bogleheads Community
Topic: Minnesota Bogleheads Meet Aug. 6, 2016
Replies: 11
Views: 1133

Minnesota Bogleheads Meet Aug. 6, 2016

The Minnesota Bogleheads' chapter will hold its quarterly meeting this Saturday, Aug. 6, 2016, from 9:30 a.m. to 11:30 a.m. at the Ridgedale Library in Minnetonka. All meetings are free and open to the public and new members are always welcome, so please join us. If you have questions, just post to ...
by Fallible
Mon Aug 01, 2016 11:15 am
Forum: Personal Finance (Not Investing)
Topic: How to Make Your Money Last
Replies: 8
Views: 1981

Re: How to Make Your Money Last

At a large extended family social gathering a financial advisor who is related by marriage advised me to buy an index equity annuity that invested in American Funds and other expensive funds. He has "helped" his clients and prefaces his advice with "if you chose to do this you should...
by Fallible
Sun Jul 31, 2016 11:59 am
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 1845
Views: 423667

Re: What Movie Have You Recently Watched?

Spotlight , on Netflix. I just started a Netflix account and discovered several of my choices weren't available. The movie was mentioned in this thread several times, so I gave it a try. It was pretty good. It deserved its Oscar. Can't think of a newspaper film since All the President's Men (Hoffma...
by Fallible
Sat Jul 30, 2016 7:03 pm
Forum: Personal Consumer Issues
Topic: What makes people succeed?
Replies: 69
Views: 5518

Re: What makes people succeed?

Talking about what makes people succeed is meaningless until we define success. Here are my 2 favorite definitions: 1. "There is only one success - to be able to spend your own life your own way." - Christopher Morley 2. "Success is the progressive realization of a worthy ideal."...
by Fallible
Fri Jul 29, 2016 8:17 pm
Forum: Personal Consumer Issues
Topic: Preparing financially for our funerals - prepay or not?
Replies: 52
Views: 2153

Re: Preparing financially for our funerals - prepay or not?

... I'm reminded of that ancient Elaine May and Mike Nichols comedy sketch where the $10 funeral option included a pine box that would be picked up and nobody knew what happened after that.... How about where, after accepting his check, she asks him if he'd like to include a casket... That may have...
by Fallible
Fri Jul 29, 2016 6:08 pm
Forum: Personal Consumer Issues
Topic: Preparing financially for our funerals - prepay or not?
Replies: 52
Views: 2153

Re: Preparing financially for our funerals - prepay or not?

I've been reading Jonathan Clements's Money Guide 2016 , which suggests readers check out funeral costs with the Funeral Consumers Alliance at funerals.org. May be of some help. He also says the median cost of a funeral with burial is $7,181, and for cremation $6,078. Clements also recommends orderi...
by Fallible
Fri Jul 29, 2016 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: Help appreciated: 90/10 AA too aggressive for us. Best way to change?
Replies: 34
Views: 1911

Re: Help appreciated: 90/10 AA too aggressive for us. Best way to change?

I think this thread has been a good example of an important difference between financial capacity and risk tolerance in setting an asset allocation. It shows that having sufficient finances to meet goals does not necessarily mean one has or should have a high tolerance for risk, yet that is sometime...
by Fallible
Fri Jul 29, 2016 7:28 am
Forum: Investing - Help with Personal Investments
Topic: Help appreciated: 90/10 AA too aggressive for us. Best way to change?
Replies: 34
Views: 1911

Re: Help appreciated: 90/10 AA too aggressive for us. Best way to change?

I called Vanguard and was told that I can't ask an advisor these questions without paying for the service. I did have a nice chat with the guy on the phone though about risk. I think my big hang up regarding AA is that if we lower it to say 80/20 or 70/30 or even 60/40 (age in bonds) that we're goi...
by Fallible
Thu Jul 28, 2016 7:05 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 1785
Views: 426489

Re: What Book Are You Currently Reading? Part VI

Just finished "Classic Feynman". A collection of vignettes from a wonderful, amazing character. Nobel laureate, iconoclast, irrepressible questioner: Richard P. Feynman, an MIT/Princeton trained Los Alamos theoretical physicist, Cal Tech professor, Challenger space shuttle investigator, o...
by Fallible
Thu Jul 28, 2016 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: Help appreciated: 90/10 AA too aggressive for us. Best way to change?
Replies: 34
Views: 1911

Re: Help appreciated: 90/10 AA too aggressive for us. Best way to ch

... Background: We’re new to passive index fund investing and worked with a Vanguard advisor to come up with a plan and asset allocation. The AA they recommend for our age group is 90/10 and then changing to 85/15 in December when I turn 40 . Over the past couple of months, I have come to realize, ...
by Fallible
Wed Jul 27, 2016 9:24 pm
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 1785
Views: 426489

Re: What Book Are You Currently Reading? Part VI

Finally got to a book on my long list, The Checklist Manifesto: How to Get Things Right , by Atul Gawande. About the smart ways to use written checklists in medicine, flying, finance/investing, and other professions. Of special interest here are his interviews with value investors Mohnish Pabrai, Gu...
by Fallible
Wed Jul 27, 2016 6:58 pm
Forum: Investing - Theory, News & General
Topic: Bogleheads approach explained in one paragraph
Replies: 13
Views: 1431

Re: Bogleheads approach explained in one paragraph

You might begin with a quote or two from John Bogle on keeping costs low and investing simple with index funds, and then simply :-) read the BH principles.
by Fallible
Wed Jul 27, 2016 12:26 pm
Forum: Investing - Theory, News & General
Topic: Traits of a successful investor
Replies: 29
Views: 2157

Re: Traits of a successful investor

Mine would be what I call "financial malaise". I liken it to hitting investing Nirvana. It is the point where you have read and read and read then thought and thought and thought about your plan specific for your situation. Then you execute it according to a Bogleheads approach (low cost ...
by Fallible
Wed Jul 27, 2016 10:09 am
Forum: Investing - Theory, News & General
Topic: Traits of a successful investor
Replies: 29
Views: 2157

Re: Traits of a successful investor

Fearleeness is a bad trait for any kind of activity apart from suicide bombing. Fear is a key emotion that warns you of a danger. Then you are free to be brave and go against your fear, or to take appropriate measures in order to minimize the danger. Courage, bravery, are not the same as fearlessne...
by Fallible
Tue Jul 26, 2016 3:45 pm
Forum: Investing - Theory, News & General
Topic: Traits of a successful investor
Replies: 29
Views: 2157

Re: Traits of a successful investor

If you had only one to choose, which of the following three do you believe is the most crucial trait of a successful investor: -patience -fearlessness -intelligence I would say patience, a key feature of discipline. Example: with intelligence, investors can learn how to buy right, i.e., create an a...
by Fallible
Tue Jul 26, 2016 3:20 pm
Forum: Investing - Help with Personal Investments
Topic: Planning for the "new normal": how?
Replies: 49
Views: 5084

Re: Planning for the "new normal": how?

One thing that I struggle with when figuring out how much I'll need for retirement is the uncertainty about what the circumstances will be like when I retire. A rule like "25x annual expenses" is unlikely to cut it when I can't even know what those expenses will be, because I don't know w...
by Fallible
Mon Jul 25, 2016 7:36 pm
Forum: Investing - Theory, News & General
Topic: The Fortitude Required of a Buy-and-Hold Equity Investor
Replies: 37
Views: 2393

Re: The Fortitude Required of a Buy-and-Hold Equity Investor

I agree that knowing this kind of market history can help close the "gap." But risk tolerance is personal, individual, probably about nature and nurture, and it can change often . The need to reassess one’s risk tolerance over time is an important but often overlooked point. Personally, I...
by Fallible
Mon Jul 25, 2016 5:22 pm
Forum: Investing - Theory, News & General
Topic: The Fortitude Required of a Buy-and-Hold Equity Investor
Replies: 37
Views: 2393

Re: The Fortitude Required of a Buy-and-Hold Equity Investor

For beginning equity investors, a critical first step is determining one's personal risk tolerance, or the ability and willingness to shoulder stock market volatility. This can be a difficult task because risk tolerance, in real life experience, is primarily an emotional capacity — while what we kn...
by Fallible
Mon Jul 25, 2016 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Who should my wife and I see, a Financial Advisor, planner, etc.
Replies: 38
Views: 2514

Re: Who should my wife and I see, a Financial Advisor, planner, etc.

In his new book, Jonathan Clements Money Guide 2016, is an excellent list of questions to ask when interviewing prospective advisors, beginning with how they are compensated, what other expenses will be incurred, are they held to a suitability or fiduciary standard, what credentials they hold, etc.
by Fallible
Sat Jul 23, 2016 8:53 pm
Forum: Investing - Theory, News & General
Topic: Reliving the Nightmare of the Crisis
Replies: 119
Views: 8709

Re: Reliving the Nightmare of the Crisis

It is hard to believe the cavalier and gleeful attitude expressed here frequently by BHs about that economic timeframe. Hard to believe that they just sat happily by and either did not even look at the economic news and then their portfolios. That they instead just took it in stride and sat in the ...
by Fallible
Sat Jul 23, 2016 8:38 pm
Forum: Investing - Theory, News & General
Topic: some thoughts from Kahneman
Replies: 6
Views: 948

Re: some thoughts from Kahneman

One of my favorite thinkers https://www.theguardian.com/science/2012/jul/08/this-much-i-know-daniel-kahneman Thanks for posting, Larry. He is also one of my favorites and here are a couple more of my favorite Kahneman quotes on risk and decisions: "Courage is willingness to take the risk once ...
by Fallible
Sat Jul 23, 2016 12:31 pm
Forum: Investing - Theory, News & General
Topic: Reliving the Nightmare of the Crisis
Replies: 119
Views: 8709

Re: Reliving the Nightmare of the Crisis

In '08' I learned, finally, that staying the course in one market crash does not assure staying the course in the next, simply because crashes and crises differ and will test emotional risk tolerances in different and unexpected ways. They are alike mainly in being what investors fear most - uncerta...
by Fallible
Fri Jul 22, 2016 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Feelings changing about AA as annual savings amount increases?
Replies: 28
Views: 2481

Re: Feelings changing about AA as annual savings amount increases?

So my ability (amount) I can now invest each year has roughly doubled. I'm going from a savings rate of 15% to new one of 30% of my income (dollars saved / gross income). My previous AA was 80/20 stocks/(bonds+cash) since about 2011. I'm in my early 30s. I've never experienced anything like 2008, b...
by Fallible
Wed Jul 20, 2016 11:43 am
Forum: Investing - Help with Personal Investments
Topic: Feeling discouraged
Replies: 60
Views: 5962

Re: Feeling discouraged

Thank you so much for the continued replies. They have really helped to add context and put things in perspective. There will be other times in the future when I feel anxious or discouraged but I know that this is a marathon not a sprint, I've got a good plan in place, I'm very fortunate to be able...

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